Saudi's Food Products Gains Most in More Than Six Weeks on Profit

Food Products Co. advanced the most in more than six weeks after the Saudi Arabian company that produces and packages foods said second-quarter profit increased almost seven-fold.

The shares surged 7.8 percent, the most since May 29, to 17.20 riyals at 11:44 a.m. in Riyadh.

Net income rose to 12 million riyals ($3.2 million) from 1.8 million riyals the year earlier, according to a company statement on the Saudi bourse.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.